The case for doing nothing.
Very few are making this argument (and I'm not one of them). Even Republicans think it's a good idea to pump huge amounts into the economy to get it moving (see "Foreclosure Alley" video for what might be coming north). But there's the "tough love" approach too, and it fits into Friedman's "This Is Not a Test" chapter.
Here's a sample quote:
Many of the Do-Nothings argue that a painful recession is the best way to destroy America’s runaway culture of irresponsibility and debt. Economic turmoil, after all, has a way of grounding Americans.
Dramatic belt-tightening across the board is the only way, they say, to stop the endless cycle of borrowing. “Our standard of living needs to come down to the point where it can be supported by organic output,” says Schiff.